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Ripple USD

[Fake]Circle (crcl.top)

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Crypto firm Ripple Labs is applying for a banking license in the US, following a similar move by stablecoin issuer Circle Internet Group as crypto firms look to be regulated to deepen ties with traditional finance.&nbsp;
Ripple CEO Brad Garlinghouse <a href="https://x.com/bgarlinghouse/status/1940454339207667941" rel="noopener noreferrer nofollow" target="_blank">confirmed</a> on X on Wednesday that the company is applying for a license with the US Office of the Comptroller of the Currency (OCC), following an earlier <a href="https://www.wsj.com/finance/regulation/ripple-seeks-a-u-s-banking-license-adding-to-list-of-crypto-companies-e007afa4" rel="noopener noreferrer nofollow" target="_blank">report</a> by The Wall Street Journal.
“True to our long-standing compliance roots, Ripple is applying for a national bank charter from the OCC,” he wrote.&nbsp;
Garlinghouse said if the license is approved, it would be a “new (and unique!) benchmark for trust in the stablecoin market” as the firm would be under federal and state oversight — with the New York Department of Financial Services already <a href="https://cointelegraph.com/news/new-york-regulator-ripple-rlusd-stablecoin-approval" rel="noopener noreferrer nofollow">regulating its</a> Ripple USD (RLUSD) stablecoin.
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 <img src="https://s3.cointelegraph.com/uploads/2025-07/0197cd86-f8f4-758c-8ecf-8ee6cb399abd" title="" alt="Ripple applies for US banking license, joining crypto rush for legitimacy">
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 Source: <a href="https://x.com/bgarlinghouse/status/1940454339207667941" rel="noopener noreferrer nofollow" target="https://x.com/bgarlinghouse/status/1940454339207667941">Brad Garlinghouse</a>
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<h2 id="ripple-follows-circle-on-wanting-bank-charter">Ripple follows Circle on wanting bank charter</h2>
Ripple’s decision to get a banking license came just two days after Circle, which issues the second-largest stablecoin USDC (<a href="/usdc-price-index" rel="noopener noreferrer">USDC</a>), <a href="https://cointelegraph.com/news/circle-applies-for-us-national-trust-bank-license" rel="noopener noreferrer nofollow">applied to the OCC</a> to create a national trust bank that would oversee its stablecoin reserves.
The move by both firms comes as the <a href="https://cointelegraph.com/news/us-senate-passes-genius-act-stablecoins" rel="noopener noreferrer nofollow">US Senate passed</a> a stablecoin regulating bill called the <a href="https://cointelegraph.com/learn/articles/genius-act-how-it-could-reshape-us-stablecoin-regulation" rel="noopener noreferrer nofollow">GENIUS Act</a>, which lays out standards for offering the US dollar-pegged tokens, including that the OCC will oversee larger stablecoin issuers.
Circle co-founder and CEO Jeremy Allaire said the company was taking “proactive steps” to “align with emerging US regulation for the issuance and operation of dollar-denominated payment stablecoins.”
Anchorage Digital is the only crypto firm that holds a national bank charter.
<h2 id="ripple-bids-for-fed-master-account">Ripple bids for Fed master account&nbsp;</h2>
Ripple’s Garlinghouse added that the company also applied for a Master Account with the Federal Reserve, which would give it access to the US central banking system.
“This access would allow us to hold $RLUSD reserves directly with the Fed and provide an additional layer of security to future proof trust in RLUSD,” Garlinghouse said.
Related: <a href="https://cointelegraph.com/magazine/bitcoin-stablecoins-showdown-looms-genius-act-nears/" rel="noopener noreferrer nofollow">Bitcoin Vs. Stablecoins showdown looms as GENIUS Act nears</a>&nbsp;
“Congress is working towards clear rules and regulations, and banks (in a far cry from the years of Operation Chokepoint 2.0) are leaning in,” he added, mentioning the conspiracy that the Biden administration <a href="https://cointelegraph.com/news/lessons-operation-chokepoint-hearings" rel="noopener noreferrer nofollow">sought to cut off crypto</a> from the financial system.
Ripple applied for the account through Standard Custody, a crypto custody firm it acquired in February 2024.
<h2 id="xrp-gains-over-3-on-ripple-s-bank-charter-application">XRP gains over 3% on Ripple’s bank charter application</h2>
XRP (<a href="/xrp-price-index" rel="noopener noreferrer">XRP</a>), the token of the XRP Ledger blockchain that Ripple Labs uses for its products, has risen 3.2% over the past day to trade at $2.24, <a href="https://www.coingecko.com/en/coins/xrp" rel="noopener noreferrer nofollow" target="_blank">according</a> to CoinGecko.
The token began to climb late on Wednesday before hitting a 24-hour peak of $2.27 around the time of Garlinghouse’s post before slightly cooling from its rally.
Legal Panel: <a href="https://cointelegraph.com/magazine/crypto-banks-stablecoin-fight/" rel="noopener noreferrer nofollow">Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight</a>&nbsp;

Ripple applies for US banking license, joining crypto rush for legitimacy

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